| Product type |
Flexible
|
| Pay Rate |
5.69% |
| APR |
6.9% |
| Expiry Period |
3 Years |
| Max LTV |
75% |
| ERC |
5% |
| Arrangement Fee |
£585 |
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A flexible mortgage enables you to be more in control of how you repay your mortgage. It allows you to make regular overpayments into the account without penalty. Where overpayments have been made, there is a future flexibility to underpay and take payment holidays or with some loans to take the loan back up to the original credit limit. The initial advance can be taken in one lump sum or in a series of staged draw downs.
Terms and conditions of Flexible Mortgages my differ and restrictions can apply to some flexibility elements so it is always best to speak to an experienced Adviser at Mortgages By Phone before making a decision.
One type of Flexible mortgage is the ‘Current Account’ Mortgage where you simply have one account that incorporates your mortgage, loans, savings and current account.
Flexible mortgages are often requested by customers who want to use their excess funds, when available, to pay into their mortgage and thereby reduce the overall term.
To find out more about this type of mortgage call us on 0845 071 4414